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The Economic Crisis + Peak Oil = An Age of Relocalization?

The financial meltdown, the credit crisis, and ensuing economic contraction—it can all be traced back to peak oil. Author Julian Darley, who knows a thing or two about dwindling resources, believes that high oil prices—caused by supply constraints not meeting demand—are the real cause of the economic crash, and until our new president and his administration face facts, they’ll just be fighting the symptoms rather than the disease.

America and the world wakes this morning to a landscape of new possibilities. We also wake up to a daunting list of problems, most of which are now well known. Yet still there is one problem that was never mentioned by either presidential candidate, no doubt for their own good reasons. The problem is one that has been waiting in the wings since 1859. Or 1846 if you live in Russia. These are the dates of the first oil wells in the world, and they mark the beginning of our dependence on oil, a dependence which is now being forced into reverse. Peak oil and decline has to become a dominant factor in political and business planning because otherwise, the wrong remedies are going to be applied to the wrong causal diagnosis. The world headlines this morning helpfully remind Obama and his new team that they face some severe economic woes. I am sure they are very grateful for that information. What they need to hear about are the underlying reasons for the financial meltdown, the credit crisis and ensuing economic contraction. Jeff Rubin, of CIBC, makes the case strongly in a recent report, that high oil prices – caused by supply constraints not meeting demand – are the real cause of the economic crash. The chart shows that all but one of the last five recessions have followed sharp rises in oil prices. Obama’s new economic advisers will surely also be looking at such graphs, but will they notice how dramatically different the 21st century price rise curve is, and will they ask why? Unless they do, it seems likely that we see economic alchemy being practiced rather than economic realism. In the past that has lead to exuberance and temporary consumer happiness. This time will be different.

Read the whole article here.


Born on Third Base: A Q&A with Author and Inequality Activist Chuck Collins

As inequality grabs headlines, steals the show in presidential debates, and drives deep divides between the haves and have nots in America, class war brews. Does it have to be this way?Can we suspend both class wars long enough to consider a new way forward? Is it really good for anyone that most of society’s […] Read More

Three Principles to Survive the Future

What guiding principles will you need to not just survive the future, but imagine a better one? Surviving the Future is a story drawn from the fertile ground of the late David Fleming’s extraordinary Lean Logic: A Dictionary for the Future and How to Survive It. That hardback consists of four hundred and four interlinked dictionary entries, […] Read More

The 5 Rules of Lean Thinking

Are you ready to co-create the future? These 5 Rules of Lean Thinking are a useful tool as we set out to collectively invent a post-market future.Surviving the Future is a story drawn from the fertile ground of the late David Fleming’s extraordinary Lean Logic: A Dictionary for the Future and How to Survive It. That […] Read More

Sow Seeds: Stop Walking Around Doing Nothing

“In the last one hundred years, 94 percent of seed varieties available at the turn of the century in America and considered a part of the human commons have been lost.”That’s one of the key takeaways in award-winning author and activist Janisse Ray’s book, The Seed Underground: A Growing Revolution to Save Food. In her book, Ray […] Read More

Solar Dollars: Promote Renewable Energy & Support Local Economies

How can you use the sun as a way to not only generate renewable energy, but support the local economy and provide interest-free financing for utility companies?Author Thomas Greco (The End of Money and the Future of Civilization) has the answer: Solar Dollars!In a recent post on this blog (Beyond Money), Greco makes the case […] Read More
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